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Porsche first-half revenues fall 12.8 percent on Mon Mar 02, 2009 7:08 pm
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FRANKFURT -- German carmaker Porsche
Automobil Holding SE said Monday its revenues fell more than 12 percent in the first half, as fewer people bought the company's luxury cars amid the slumping economy.
The Stuttgart-based company said revenues in the August-January period fell 12.8 percent to 3.04 billion euro ($3.8 billion). The company did not report net profit, but said its pretax profit rose during the period, without being more specific. The company's complete earnings report is due at the end of March.
Porsche said it also saw higher costs during the period related to the production of its new sedan, the Grand Turismo Panamera and for the development of the hybrid version of its Cayenne SUV.
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Automobil Holding SE said Monday its revenues fell more than 12 percent in the first half, as fewer people bought the company's luxury cars amid the slumping economy. The Stuttgart-based company said revenues in the August-January period fell 12.8 percent to 3.04 billion euro ($3.8 billion). The company did not report net profit, but said its pretax profit rose during the period, without being more specific. The company's complete earnings report is due at the end of March.
Porsche said it also saw higher costs during the period related to the production of its new sedan, the Grand Turismo Panamera and for the development of the hybrid version of its Cayenne SUV.
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